Labour market - Essay Example

In the medium and short term, the demand for labour will adjusts to the changes in the vast national income and the cycle in business. In the longer term, demand for labour changes, as a result, of deep-seated large scale changes to…

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Labour market flexibility refers to the ability and the willingness of labour to respond to changes in the market condition, including changes in the demand for work force and the wage rate. The labour market flexibility is an imperative aspect of how labour markets adjusts to supply and demand, it is therefore has a key role to the supply side of the macroeconomics. A flexible labour market is when firms are under fewer regulations concerning the labour force and therefore, can set their own wages, change their work hours and fire employees (Michie & Sheehan 2003, P.131). In contrast, a labour market with low flexibility is bound by some rules and regulations such as requirements from trade unions and minimum wage restrictions. It is good to note that, labour market institutions were seen to block the clear functions of the market by weakening the demand for work force, thus making it not attractive to hire workers by pushing up the wage or by distorting the labour supply, leading to impairing the equilibrium of market function mechanism (Benner 2003, P.629).
The most distinction of labour market flexibility is based on strategies companies use, and they can be grouped into four: External numerical flexibility, it refers to the number of workers from the external market or the adjustments of labour intake. It can be achieved by employing workers temporarily or on fixed contracts, therefore, the employer can hire and fire employees according to the company’s needs, by following the protection legislation. Internal numerical flexibility, it is achieved by adjusting schedules or working hours of workers employed in the firm. It includes part time, overtime and shifts. Functional flexibility, it is where the employees can be transferred to different tasks within the company, it mostly deals with organization of operations in a firm. Financial flexibility, it is where there are differences
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...IMMIGRATION SEGMENTED LABOURMARKET THEORY It is a theory which looks at immigration as a demand driven part of the economic structure of developed industrial countries (Piore 1979) built in tendencies in modern capitalism led to a segmented labourmarket. There is a primary sector which produces jobs that have a secure tenure, good benefits, with better working conditions, while a secondary sector is full of instability, limited benefits, and hazardous working conditions with low pay. Thus, workers in industrialised nations do not want the secondary sector jobs, resulting in employers looking for recruits among immigrants to fill the rejected...

...and the aggregation of all the utility functions will give rise to the supply curve and the elasticities of the labour supply for each worker varies with the wage rates. The supply curve is a positive function of the wage rate and it is shown by the following graph below: Fig. 4 Classical Labor Supply Curve (Griffiths & Rotheim, 2007) The equilibrium occurs with the interaction of the demand and the supply curve and is shown in the diagram below: Fig. 5 Market equilibrium (Griffiths & Rotheim, 2007) In the above diagram, the equilibrium occurs at the point where the demand and the supply curve intersect and W1 and L1 are the market clearing wage rate and labor. Without any external shock...

...theory’ are “dual labor market theory and internal labor market theory” (An Oysterman, pp. 20-39). Dual labor market theory is concerned with the split between two important sectors in the labor market and national economy: “secondary and primary sector both having quite different set of wages and different employment procedures” (Toft, pp. 41-47). Mobility between the two markets is very difficult; secondary sector workers are stuck there and the only way to come out is either by getting training or getting higher qualifications. Jobs in a secondary markets are low skilled, easy and quick to learn, as a result under employment and...

...?RESEARCH INTO THE GRADUATE LABOURMARKET 8th November Table of Contents Table of Contents 2 Introduction 3 Graduate labourmarket in UK 3 Knowledge, skills and experience required to become Online Marketing Manager 4 Career path for a person entering marketing career 5 Medium/long term prospects for employment in marketing field and value of internship 6 Conclusion 7 References 8 Introduction Due to the stiff competition that has engulfed business arena, employers are focused at recruiting experienced and well trained employees. In this regard, it is prudent for institution of higher learning to offer courses that are...

...heavy taxes will shut down the businesses. AUSTRALIAN LABOURMARKET Introduction There are several ways through which a person gains human capital. However, the two main ways are education and the second is experience or on the job training. Various skills are required to perform different jobs and the basics skills are acquired through studies or formal education. However, without experience or practice the education is not as effective. Therefore, even at work, the worker is always in the process of learning. Considering the level of skills in the labour force in Australia, the government has been consistently undertaking various projects to support the workers in various areas and...

...?Employment Law and LabourMarket ‘’The Chartered Institute of Personnel and Development (CIPD) is committed to championing better work and working lives, for the benefit of individuals, businesses, economies and society,’’ (CIPD Megatrends Report 2013:1). Section 1: Why this goal is important for different parties to employment relationships such as employees, organisations, trade unions and the UK government. The goal of better work and working lives is very important for the different parties. To begin with, this goal is important to employees due to several reasons. One of the ways through which the CIPD is championing for better work and working lives for the employees is through requesting the...

...EUROPEAN LABOURMARKET: FRANCE Introduction The level of unemployment still remains high in many of the European countries despite the more efforts that have been directed by the concerned in trying to mitigate the situation. The level of unemployment has been on the increase which has raised concern from many stakeholders who have attributed the increasing rate to insufficient level of economic activity in the region and the malfunction of the labourmarkets. The labour laws in the region have played role in the market and there have been many calls for review of the labour laws in most countries especially France which has been worst hit by labour crises. There has been evidence of the persistence of the stock of unemployment... as...

..., 2009.
Qualifications and future labourmarket in Australia. Acernews. ACER. Australian
Council for Educational Research. Accessed June 19, 2009.
Retention and Succession in the Corporate Workforce. Retaining Talent. Human Capital
Institute. Aberdeen Group. Accessed June 19, 2009.
Tourism Australia. Tourism Info. Accessed June 19, 2009.
Wikipedia. Accessed June 19, 2009. ... Evaluating a Specific Labor Market Concern Under the New Economic Order of Australia The current economic boom in Australia is overwhelming as wellas fascinating to the extent that this unique country was able to parry the blows of the global downturn.1 The influx of further dynamic intensity and development in an already stable sovereignty are...

...﻿RESEARCH INTO THE GRADUATE LABOURMARKET
Table of Contents
Table of Contents 1
Introduction 2
Graduate labourmarket in UK 2
Knowledge, skills and experience required to become Online Marketing Manager 3
Career path for a person entering marketing career 4
Medium/long term prospects for employment in marketing field and value of internship 5
Conclusion 6
References 7
Introduction
Due to the stiff competition that has engulfed business arena, employers are focused at recruiting experienced and well trained employees. In this regard, it is prudent for institution of higher learning to offer courses that...

...The trend towards labourmarket ‘flexibility’ inevitably entails employment insecurity and a transfer of risk from employers to employees.” To what extent do you agree with this statement?
Table of Contents
Introduction 3
Discussion 4
Brief description about the term LabourMarket Flexibility 4
Diagrammatic representation of the determinants and dimensions of labourmarket flexibility 6
Orthodox view of Labourmarket flexibility 7
How Labourmarket rigidity hindered economic performance 8
Exploring the visions of the employee and the employer, regarding...

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